How does AGO select statutory boards to be audited?
AGO considers factors such as materiality of public funds managed by the statutory boards and the number of years the statutory boards have not been audited by AGO.
What types of reports does AGO produce?
AGO produces the following reports:
1. Report of the Auditor-General submitted annually to the President and presented to Parliament;
2. Audit opinion on the published financial statements of Government and statutory boards; and
3. Management letters for each audit giving details of audit observations such as internal control weaknesses, operational inefficiencies and non-compliances with rules and regulations.
These are sent to the auditees and their supervisory bodies.
When is the Report of the Auditor-General submitted to the President each year?
The Report is submitted to the President in early July each year.
How do I obtain or purchase a copy of the annual Report of the Auditor-General that was presented to the Parliament?
The published reports are available for reference at the National Library and can be purchased from Toppan Leefung Pte Ltd.
What are the criteria for reporting observations in the Report of the Auditor-General?
The more significant audit observations are covered in the Report of the Auditor-General. These are typically observations which indicate malfeasance, lapses with significant financial impact, systemic or common lapses that may seriously weaken financial governance and controls if not corrected, or serve as useful learning points for improvements across the Whole-of-Government.Why does AGO highlight instances of non-compliance involving relatively small sums of public funds?
Non-compliances with procedures are signs of weak internal controls. Reporting of such observations serves to raise awareness of the need for effective internal controls. Small lapses, if regarded as trivial and allowed to perpetuate, would lower the standard of governance in the public sector. They could lead to material errors or be exploited resulting in significant loss of public moneys.